tfl;dr:
Be careful when subbing out similar relays. Don't use a "2 coil" relay.
Nothing bad will happen, it simply won't work.
Simple version: don't use the series with "L2" in its name.
I tried Panasonic TQ2-L2-5V, when the correct relay was out of stock,
and it didn't switch. (Actually, it would switch between effect and silence but never dry bypass.)
I swapped the relay with the specified TQ2-L-5V
and it works great! One "L," not two baby.
And that's the only thing I changed so I'm pretty sure that was the culprit.
Captain Obvious, out!